I checked that wire and specifically where you have circled, it's double if not triple insulated, the rest of it seems to check out as well but I'll take a second look with some daylight. I attached a pic of the top as well, don't believe there's any concerns there either.The primary concern would be the wire circled between there and the fuse box. After that point, theoretically (and practically) a short-circuit should pop the fuse. Unhook it there, put a meter on it, shake it, pull on it, push on it, while checking continuity to ground. Check it thoroughly where it enters the fuse box too. I reckon Yamaha put extra shielding on it for a reason.